Dublin, Sept. 26, 2024 (GLOBE NEWSWIRE) — The “Dried Spices Market Report 2024” report has been added to ResearchAndMarkets.com’s offering.
The dried spices market size has grown strongly in recent years. It will grow from $9.74 billion in 2023 to $10.26 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The dried spices market size is expected to see strong growth in the next few years. It will grow to $12.76 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%.
The growth observed in the historical period can be attributed to several factors, increasing global demand for spices, expanding international trade, rising urbanization leading to greater consumption, growing health consciousness among consumers, and increased exportation of spices.
In the forecast period, growth is expected due to several factors, increasing demand for functional spices with health benefits, rising popularity of ethnic and regional spices, growing preference for organic and sustainable spice options, innovation in spice blends and mixes to cater to diverse culinary preferences, and interest in exotic spices for unique flavor experiences.
Major trends anticipated in this period include the rise of functional spices offering health-promoting properties, the continued popularity of ethnic and regional spices reflecting cultural diversity, increasing consumer preference for organic and sustainable sourcing of spices, ongoing innovation in spice blends and mixes to meet evolving taste preferences, and the exploration and adoption of exotic spices to enhance culinary experiences.
The dried spices market is poised for growth driven by increasing demand for convenience food products. Convenience foods are pre-prepared for easy consumption, a trend fueled by factors such as rising health consciousness, higher disposable incomes, and a preference for ready-to-eat meals. Dried spices play a crucial role in enhancing the flavor and appeal of these convenient food options, making them more appealing to consumers seeking quick and flavorful meal solutions. Escalating demand for convenience food products is stimulating growth in the dried spices market.
Leading companies in the dried spices market are focusing on innovation, particularly in eco-friendly dry spices, to cater to evolving consumer tastes and preferences. Eco-friendly dry spices are produced, packaged, and distributed with a strong emphasis on sustainability and minimal environmental impact. For instance, Unilever PLC launched Royco Spices in October 2023, a captivating line of dry seasonings designed to revolutionize culinary experiences. These spices are sourced from global suppliers, ensuring high-quality ingredients that enhance a wide range of tastes and cooking styles while maintaining freshness and potency for exceptional flavor enhancement.
Asia-Pacific was the largest region in the dried spices market in 2023. The regions covered in the dried spices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the dried spices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 – 2028 |
| Estimated Market Value (USD) in 2024 | $10.26 Billion |
| Forecasted Market Value (USD) by 2028 | $12.76 Billion |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | Global |
Companies Featured
- Nestle SA
- The Kraft Heinz Company
- McCormick & Company Inc
- Firmenich SA
- Sauer Brands Inc.
- Frontier Co-op
- Dharampal Satyapal Group
- EVEREST Food Products Pvt. Ltd.
- Bart Ingredients Company Ltd.
- Pacific Spice Company Inc.
- The Spice Hunter
- Adams Extract & Spice LLC
- Tony Chachere’s Creole Foods
- Red Monkey Foods Inc.
- Mahatma Dharma Hindu Pvt. Ltd.
- Penzeys Spices
- The Spice House
- Simply Organic
- Badia Spices Inc.
- Zaika Foods
- Knorr Foods Co. Ltd.
- Naturevibe Botanicals
- Olam Group Limited
- SB Foods Inc.
- Spiceology Inc.
- Spicely Organics
Key Topics Covered:
1. Executive Summary
2. Dried Spices Market Characteristics
3. Dried Spices Market Trends and Strategies
4. Dried Spices Market – Macro Economic Scenario
4.1. Impact of High Inflation on the Market
4.2. Ukraine-Russia War Impact on the Market
4.3. COVID-19 Impact on the Market
5. Global Dried Spices Market Size and Growth
5.1. Global Dried Spices Market Drivers and Restraints
5.1.1. Drivers of the Market
5.1.2. Restraints of the Market
5.2. Global Dried Spices Historic Market Size and Growth, 2018 – 2023, Value ($ Billion)
5.3. Global Dried Spices Forecast Market Size and Growth, 2023 – 2028, 2033F, Value ($ Billion)
6. Dried Spices Market Segmentation
6.1. Global Dried Spices Market, Segmentation by Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Pepper
- Ginger
- Cinnamon
- Cumin
- Turmeric
- Cardamom
- Cloves
- Nutmeg and Mace
- Other Products
6.2. Global Dried Spices Market, Segmentation by Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
6.3. Global Dried Spices Market, Segmentation by Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
6.4. Global Dried Spices Market, Segmentation by Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Hypermarket Or Supermarket
- Grocery Stores
- Online Channel
- Other Distribution Channels
6.5. Global Dried Spices Market, Segmentation by End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Home Use
- Commercial Use
- Food Industry
- Cosmetic Industry
- Other End Uses
7. Dried Spices Market Regional and Country Analysis
7.1. Global Dried Spices Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Dried Spices Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/61xxny
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